A new slimmed-down version of LA Fitness is set to emerge after its club landlords backed a deal to enable the group to shed 33 unsustainable clubs.

The company voluntary arrangement (CVA), run by Deloitte, was supported by more than 90 per cent of landlords, paving for the way for the health club chain to complete a wider financial workout that will wipe out its £250 million debt burden.

Under the terms of the CVA, LA Fitness will sell 33 of its 80 clubs over the next six months. Another 31 will be retained on current rents, albeit paid monthly